To the executive board of IFU
We have examined the IFU Project Portfolio 2011, given by the executive board of IFU, for the purpose of examining whether the data and information are documented and prepared in accordance with the methodology and definitions set out on page 36.
The IFU Project Portfolio 2011 is the responsibility of the executive board of IFU. Our responsibility is, based on our examination, to conclude on the IFU Project Portfolio 2011.
Basis of conclusion We performed our examination in accordance with International Standards on Auditing and additional requirements under Danish audit regulation applicable to assurance engagements to obtain reasonable assurance as to whether the IFU Project Portfolio 2011 is free of material misstatement. An examination includes examining, on a test basis, evidence supporting the amounts and disclosures in the IFU Project Portfolio 2011. An examination also includes assessing the methodology and definitions used and significant estimates made by the executive board, as well as evaluating the overall presentation of the IFU Project Portfolio 2011. We believe that our examination provides a sufficient basis for our conclusion.
Conclusion In our opinion, the IFU Project Portfolio 2011 has, in all material respects, been prepared in accordance with the methodology and definitions set out on page 36.
Copenhagen, 1 March 2012
PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab
Mikael Sørensen Preben Larsen State Authorised Public Accountant State Authorised Public Accountant